Developed, Developing Nations Argue Over Sharing Costs of Cutting Carbon Emissions
There is an urgent need to bring down the rising carbon emissions and switch over from the dirty fossil fuels to clean alternative energy sources. Leaders of the developed and developing nations completely agree over this plan of action but, sadly, the agreement between the two ends there. Both parties agree that they have got to act quickly but none is willing to take the initiative on the economic front of the fight against climate change.
Under the Kyoto Protocol the onus of controlling and bringing down the carbon emissions was on the developed nations with the help of tools like the national carbon registry and the emission permits whereas the developing nations were not obligated to any emission cuts. Now that the talks for a new climate treaty have started to gain momentum the developed nations want the developing countries to reduce their carbon emissions under that treaty. And although the developing countries recognize their responsibility in the fight against climate change they are unwilling to bear the full economic burden of the same.
At the climate talks held at Poznan, Poland, the representatives from both developed and developing nations argued over how the costs of cutting carbon credits be divided. Developing nations want extra financial help in the form of increased taxes on the profits that developed nations make from the emissions trading scheme. Whereas the developed nations claim that current tax system is sufficient to provide adequate funds for the Adaptation Fund which would help developing nations replace their polluting energy systems with new clean energy systems.